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Case Status:    SETTLED
On or around 02/22/2012 (Date of order of final judgment)

Filing Date: September 17, 2010

According to the press release dated on September 18, 2010, the Complaint asserts violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Particularly, the Complaint alleges that the Company and certain of its officers and directors issued materially false and misleading statements during the Class Period by fabricating the existence of a lucrative contract with a Saudi Arabian partner for the sale of product to the Kingdom of Saudi Arabia, when in fact no such contract or agreement was in place or likely to be put into place.

On February 24, 2011, Judge Candy W. Dale granted the motion to appoint Moustafa Salem as lead plaintiff, and Robbins Umeda as lead counsel and Gordon Law Offices as liaison counsel.

On June 10, 2011, the District Court released an order granting an unopposed motion to dismiss without prejudice against an individual defendant.

According to the docket entry order filed on September 8, 2011, the Court has been informed that the parties have reached a settlement and that settlement papers are forthcoming. Settlement documents are due on or before September 30, 2011.

On February 22, 2012, a Final Judgment and Order of Dismissal with Prejudice along with an Order Awarding Attorneys' Fees and Reimbursement of Litigation Expenses was entered into the Court’s docket.

COMPANY INFORMATION:

Sector: Services
Industry: Schools
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PCSV
Company Market: OTC-BB
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Idaho
DOCKET #: 10-CV-00479
JUDGE: Hon. Edward J. Lodge
DATE FILED: 09/17/2010
CLASS PERIOD START: 03/28/2007
CLASS PERIOD END: 08/15/2007
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Gordon Law Offices
    623 West Hays, Gordon Law Offices, ID 83702
    208.345.7100 208.345.7100 ·
  2. The Rosen Law Firm, P.A. (New York)
    350 Fifth Avenue, Suite 5508, The Rosen Law Firm, P.A. (New York), NY 10118
    212.686.1060 212.202.3827 · lrosen@rosenlegal.com
No Document Title Filing Date